Canoe Financial LP Boosts Stock Holdings in Fiserv, Inc. $FI

Key Points

• Canoe Financial LP increased its stake in Fiserv by 83.7%, acquiring a total of 303,464 shares valued at approximately $52.32 million.
• Several hedge funds have also made adjustments to their positions, with 90.98% of Fiserv's stock owned by institutional investors.
• Analysts have cut price targets for Fiserv, with an average consensus rating of "Moderate Buy" and a target price of $207.36, while the stock's recent earnings report showed a 20% year-over-year increase in EPS.

Canoe Financial LP increased its stake in Fiserv, Inc. (NYSE:FI - Free Report) by 83.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 303,464 shares of the business services provider's stock after buying an additional 138,257 shares during the period. Canoe Financial LP owned 0.05% of Fiserv worth $52,320,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vega Investment Solutions purchased a new position in Fiserv during the 4th quarter valued at about $25,000. Park Square Financial Group LLC purchased a new position in Fiserv during the 4th quarter valued at about $28,000. Activest Wealth Management increased its position in Fiserv by 3,150.0% during the 1st quarter. Activest Wealth Management now owns 130 shares of the business services provider's stock valued at $29,000 after purchasing an additional 126 shares during the period. Christopher J. Hasenberg Inc increased its position in Fiserv by 218.5% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 207 shares of the business services provider's stock valued at $36,000 after purchasing an additional 142 shares during the period. Finally, Abound Financial LLC purchased a new position in Fiserv during the 1st quarter valued at about $38,000. Hedge funds and other institutional investors own 90.98% of the company's stock.

Fiserv Stock Performance

NYSE FI traded down $1.43 on Monday, hitting $130.37. 7,257,280 shares of the company's stock traded hands, compared to its average volume of 4,436,563. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.09. Fiserv, Inc. has a 1-year low of $128.22 and a 1-year high of $238.59. The firm's 50-day moving average price is $140.59 and its two-hundred day moving average price is $171.00. The firm has a market capitalization of $70.87 billion, a PE ratio of 21.76, a P/E/G ratio of 0.86 and a beta of 0.94.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The business services provider reported $2.47 EPS for the quarter, beating the consensus estimate of $2.43 by $0.04. Fiserv had a net margin of 16.00% and a return on equity of 19.69%. The business had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.20 billion. During the same period in the previous year, the business posted $2.13 EPS. The business's quarterly revenue was up 8.0% compared to the same quarter last year. Fiserv has set its FY 2025 guidance at 10.150-10.30 EPS. As a group, analysts expect that Fiserv, Inc. will post 10.23 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on FI. Jefferies Financial Group cut their target price on shares of Fiserv from $180.00 to $165.00 and set a "hold" rating on the stock in a research report on Tuesday, May 27th. Truist Financial lifted their price objective on shares of Fiserv from $181.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Barclays set a $175.00 price objective on shares of Fiserv and gave the stock an "overweight" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. cut their price objective on shares of Fiserv from $210.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Fiserv in a research note on Thursday, July 17th. They issued a "buy" rating and a $200.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $207.36.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.